Article: The Illegal Wildlife Trade and the Banking Sector in China

Article - Media, Publications

The Illegal Wildlife Trade and the Banking Sector in China

TRAFFIC, 12 April 2021

Cambridge, UK – 14 April 2021: Chinese banks must take action to prevent illegal wildlife traffickers from exploiting their networks to launder money says TRAFFIC. The non-governmental organisation, which works globally on trade in wild animals and plants in the context of both biodiversity conservation and sustainable development, is today releasing resources that indicate how Chinese banks are at risk of greater scrutiny and pressure from governments and institutional investors if they fail to act on the illegal trade of wildlife.

The illegal trade of wildlife exploits not only species at grave risk, but also threatens ecosystems and contributes significantly to biodiversity loss. The illicit trade can erode the foundations of economies and livelihoods.

Banks in China have a major role to play in curtailing these crimes. By taking a zero-tolerance approach to the illegal wildlife trade, they can work to prevent the proceeds of these crimes from being laundered through their networks.”

Read Full Article